Uganda finally passes anti-money laundering Bill in sync with partners
Saturday July 13 2013
Ugandan parliament has finally passed an Anti-Money Laundering Bill, joining other countries in the region in the crackdown on corruption, drug trafficking and terrorism financing. Photo/FILE
Kenya, Rwanda and Tanzania have stringent anti-money laundering laws, which have established state agencies to eradicate the vice.
The Bill, now awaits presidential assent to become law and will not be retrospective as some MPs had demanded.
While a section of Members of Parliament wanted the Bill passed into law and backdated, others said the law would facilitate witch-hunt. Proponents of the Bill said a retrospective law would pave the way for enforcement agencies to bring to book all suspects who committed the crime in the past.